This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Harbinger Group Inc. Reports Fiscal 2012 Results

“Proof of the compelling value proposition of our investment model can be seen in the strong performance of our Insurance and Financial Services group, including the continued success of FGL’s new fixed indexed annuity Prosperity Elite SM product. We also launched an innovative new fixed indexed universal life insurance product that will further strengthen FGL’s life portfolio.

“Spectrum Brands – our Consumer Products business – also performed well, delivering solid operating income and Adjusted EBITDA growth. Spectrum Brands’ recently announced acquisition of Stanley Black & Decker’s Hardware & Home Improvement Group will further enhance revenues and cash flows, and add to its powerful group of consumer brands.

“Finally, we are excited about the new joint venture with EXCO Resources, announced earlier this month, that will establish and anchor our new Energy operating business. This transaction will add a long-life, proven conventional oil and gas business with strong cash flows.

“Overall cash flows from our operating subsidiaries – combined with expected cash flows from the new joint venture with EXCO – should exceed $100 million next fiscal year, which would more than cover HGI’s existing annual interest and dividend payments.”

Detail on Fiscal 2012 Results:

HGI's consolidated revenues for Fiscal 2012 were $4.48 billion, compared to $3.48 billion for Fiscal 2011. Revenues for Consumer Products, which reflect the Spectrum Brands business, were $3.25 billion in Fiscal 2012 compared to $3.19 billion last year, an increase of 2% (or 4% excluding negative foreign exchange impact). The Insurance and Financial Services group contributed $1.2 billion to HGI’s revenues in Fiscal 2012 compared to $291 million in Fiscal 2011. Insurance and Financial Services group results reflect strong operational performance and the benefit of a full year of operations of FGL, which was acquired in April 2011.

HGI’s consolidated operating income was $409 million for Fiscal 2012 compared to operating income of $164 million in Fiscal 2011. HGI reported consolidated net income attributable to common and participating preferred stockholders of $30 million, or $0.15 per common share attributable to controlling interest, in Fiscal 2012, compared to $22 million, or $0.11 per common share attributable to controlling interest, in Fiscal 2011.

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs